Legal Opinion

Levy v. Chemical Bank (In re Scott, Gorman Municipals, Inc.)

District Court, S.D. New York

Decided June 30, 1982No. Bankruptcy No. 75 B 1538PublishedCited by 1 opinion

1Opinion of the Court

MEMORANDUM OPINION

JOEL LEWITTES, Bankruptcy Judge.

In this adversary proceeding1 commenced by the Trustee in Bankruptcy of Scott, Gor-man Municipals, Inc. (“SGM”), both the Trustee and defendants Milton and Martha Staub have moved for summary judgment.2 Although, the Trustee’s motion is addressed to several defendants, this decision resolves only the dispute as between the Trustee and the Staubs.

The undisputed facts are as follows:

On April 16, 1975 Chemical entered into an agreement with SGM whereby Chemical agreed to service a clearing account for the purchase and distribution of securities…

2Cases cited1 opinion

In the Matter of Paragon Securities Company, a New Jersey Corporation, Paragon Securities Company of New York, a New York Corporation, Municiplex Funding, Inc., a New Jersey Corporation, Paragon Life Agency, Inc., a New Jersey Corporation, Paragon Insurance Agency, a New Jersey Corporation, Nelson Stousland School, Inc., a New Jersey Corporation, and Paragon Securities Company of Florida, a Florida Corporation, Bankrupts, Pearl LevineCourt of Appeals for the Third Circuit · 1979

3Cited by1 opinion

Levy v. Chemical Bank (In Re Scott, Gorman Municipals, Inc.)District Court, S.D. New York · 1983